The fiscal year of the Town shall be as required by the General Laws.
[Amended 10-21-2019 FATM, Art. 19]
On or before the first Monday in February of each year, the Town Administrator and the School Committee shall submit to the Select Board, and file with the Finance Committee, proposed budgets for the fiscal year. The Town Administrator's budget shall be accompanied by his/her budget message and supporting documents.
[Amended 10-21-2019 FATM, Art. 19]
The message of the Town Administrator shall explain the budget for all town agencies, both in fiscal terms and in terms of work programs. It shall outline proposed financial policies of the Town for the ensuing fiscal year, describe important features of the budget, indicate any major variations from the current year in financial policies, expenditures and revenues together with the reasons for such chances, summarize the Town's debt position and include other material as the Town Administrator deems desirable, or as the Select Board members may require.
[Amended 10-21-2019 FATM, Art. 19]
The budget shall provide a complete financial plan for all Town funds and activities, including the budget adopted by the School Committee for the ensuing year. Except as may be required by statute or by this Charter, the School Committee budget shall conform with the general format of the Town Administrator's budget which shall be in the form which the Town Administrator deems desirable or as the Select Board and the Finance Committee may require. In his/her presentation of the budget, the Town Administrator shall utilize modern concepts of fiscal presentation so as to furnish maximum information and the best financial control. The budget shall show in detail all estimated income from the proposed property tax levy and other sources, and all proposed expenditures including debt service for the following year. The budget shall be arranged to show the actual and estimated income and expenditures for the previous, current and ensuing fiscal years and shall indicate in separate sections:
(A) 
Proposed expenditures for current operations during the ensuing fiscal year, detailed by town agency and position in terms of work programs, and the method of financing such expenditures;
(B) 
Proposed capital expenditures during the ensuing fiscal year, detailed by town agency, and the proposed method of financing each such capital expenditure; and,
(C) 
Estimated surplus revenue and free cash at the end of the current fiscal year, including estimated balances in any special accounts established for specific purposes.
The Finance Committee shall hold one or more public hearings on the proposed budget not less than three (3) days prior to the session of the Town Meeting at which it is to be submitted for adoption.
Warrant articles as adopted by the Representative Town Meeting shall be made available at the office of the Town Clerk for examination by the public by the fifth day after their adoption. This provision shall not affect the availability of the annual Town Report, the Town Warrant or the report of the Finance Committee.
[Amended 10-21-2019 FATM, Art. 19]
Weekly warrants for the payment of town funds prepared by the Town Accountant in accordance with the provisions of the General Laws shall be submitted to the Select Board. The approval of such warrants by the Select Board shall authorize payment with town funds. Warrants for the payment of School Department vouchers and payroll shall also require the signatures of the majority of the School Committee members.
[Amended 10-21-2019 FATM, Art. 19]
The Town Accountant shall prepare and file all annual and other financial statements or reports as prescribed by State Statute, and promptly, each month and annually, shall submit to the Select Board and Finance Committee, financial statements for all funds consisting of, but not limited to, a balance sheet, statement of estimated and actual revenues, statements of estimated and actual expenditures, statements of cash receipts, disbursements and balances, forecast of cash position and statement of changes in fund balances. The financial statements shall be prepared so as to provide a full disclosure of financial position and operating results in accordance with generally accepted accounting principles applicable to the Town and shall include, but not be limited to, balanced fund groups for the General Fund, debt service funds, trust and agency funds, and special assessment funds.
(A) 
The Select Board shall engage annually a Certified Public Accountant or firm of accountants to audit all accounts of the Town. Such accountants shall have no personal interest in the fiscal affairs of the Town government or any of its officers.
[Amended 10-21-2019 FATM, Art. 19]
(B) 
The Select Board members may order a complete or partial audit of the town accounts at any other time they deem it necessary, or when requested by 3% of the registered voters.
[Amended 10-21-2019 FATM, Art. 19]
(C) 
A copy of every auditor's report shall be filed with the Town Clerk, shall be a public record, and a summary thereof shall be published in the next Annual Town Report.
[Amended 10-19-2015 FATM, Art. 12; 6-4-2016 Town Election; 10-21-2019 FATM, Art. 19]
The Finance Director shall have and exercise all powers and duties of the Town Treasurer and Tax Collector or the Town Accountant, but not both, as those terms are defined under the Constitution and General Laws of the Commonwealth. The Finance Director shall ensure compliance with all appropriate statutes and be responsible for overall management of the town's investment portfolio. In addition, the Finance Director shall effect collection of all accounts due town, direct the Town's financial operations, including the duties of Town Accountant, assist the Town Administrator in the preparation of the Annual Budget, and report periodically on the financial status of the Town to the Select Board.